ELECTRONIC FUND TRANSFERS

YOUR RIGHTS AND RESPONSIBILITIES

The Electronic Fund Transfers we are capable of handling for consumers are indicated below, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.

  1. TRANSFER TYPES AND LIMITATIONS
  1. Terminal Transfers. You may use your card and/or code to make:
    1. Cash withdrawals from checking accounts.
    2. Cash withdrawals from savings accounts.
    3. Deposits to checking accounts.
    4. Deposits to savings accounts.
    5. Transfers of funds between checking and savings accounts upon request.
    6. Balance inquiry available at selected locations.

Some of the services may not be available at all terminals.

  1. Prearranged Transfers. You may arrange for us to:
    1. Accept certain direct deposits to your checking account.
    2. Accept certain direct deposits to your savings account.
    3. Pay certain recurring bills from your checking account in the amounts and on the days you request.
    4. Pay certain recurring bills from your savings account in the amounts and on the days you request.
  1. Limitations on frequency of transfers.
    1. You may make only _________ cash withdrawals for our terminals each ________.
    2. You may withdraw up to your personal daily withdrawal limit per day (if funds are available).
    3. Transfers from a money market deposit accounts or a savings account to another account or to third parties by preauthorized, automatic, or statement cycle with no more than three by check, debit card or similar order to third parties.
    4. For security reasons, there are other limits on the number of transfers you can make through our terminals.
  1. Limitations on dollar amounts of transfers.
    1. The limit for terminal _______________________________________.
    2. _________________________________________________________.
  1. FEES
    1. We charge ___________ each ____________________ to our customers whose accounts are set up to use ________________________.
    2. We charge ___________ each __________________ but only if the ________________ balance in the _________________ falls below _____________ during the ____________.
    3. __________________________________________________________________________.
    4. __________________________________________________________________________.

Except as indicated above, we do not charge for Electronic Fund Transfers.

  1. DOCUMENTATION
  1. Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using one of our terminals.
  2. Preauthorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed below to find out whether or not the deposit has been made.
  3. In addition,
    1. You will get a monthly account statement from us, unless there are no transfers in a particular month. In any case you will get a statement at least quarterly.
    2. You will get a quarterly statement from us on your savings account if the only possible electronic transfer to or from the account is a preauthorized deposit.
    3. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.
  1. PREAUTHORIZED PAYMENTS
  1. Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Hereís how:
  2. Call or write us at the telephone number or address listed in this disclosure, in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

  3. Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount form the previous payment, or when the amount would fall outside certain limits that you set.)
  4. Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payment 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
  1. FINANCIAL INSTITUTIONíS LIABILITY
  1. Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
  1. CONFIDENTIALITY
  1. We will disclose information to third parties about your account or the transfers you make:
    1. where it is necessary for completing transfers; or
    2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
    3. in order comply with government agency or court order; or
    4. if you give us written permission.
  1. UNAUTHORIZED TRANSFERS
  1. Consumer Liability. Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission.)
  2. If you do NOT tell us within 2 business days after you learn of the loss or theft of you card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.

    Also, if you statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

    If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

  3. Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this disclosure.
  1. ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

    1. Tell us your name and account number (if any).
    2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
    3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will tell you the results of our investigation within 10 business days (20 business days for point-of-sale or foreign-initiated transfers) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days for point-of-sale or foreign-initiated transfers) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days for point-of-sale or foreign-initiated transfers) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

For problem resolution call:

(606) 348-8411

or write:

Monticello Banking Company
50 North Main
Monticello, KY 42633

 Our Business Days Are: Monday through Friday

- Holidays Not Included-